Quantbot Technologies LP Buys 8,507 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Quantbot Technologies LP boosted its stake in IPG Photonics Co. (NASDAQ:IPGP) by 57.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,253 shares of the semiconductor company’s stock after purchasing an additional 8,507 shares during the quarter. Quantbot Technologies LP’s holdings in IPG Photonics were worth $1,728,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. KBC Group NV boosted its position in shares of IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 365 shares in the last quarter. Innealta Capital LLC acquired a new stake in IPG Photonics during the 2nd quarter worth $85,000. Assetmark Inc. lifted its holdings in IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after acquiring an additional 295 shares in the last quarter. Covestor Ltd grew its stake in IPG Photonics by 7.7% in the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after acquiring an additional 133 shares during the period. Finally, CWM LLC raised its position in shares of IPG Photonics by 226.4% during the third quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,689 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IPGP. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Up 1.0 %

NASDAQ IPGP opened at $78.04 on Friday. The firm’s 50 day moving average is $76.40 and its 200-day moving average is $78.12. The company has a market capitalization of $3.38 billion, a PE ratio of -22.49 and a beta of 0.98. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. The firm had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company’s revenue was down 22.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. As a group, sell-side analysts expect that IPG Photonics Co. will post 1.51 EPS for the current year.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.